Re: This should end all of the false claims about paying US taxes on p
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No, that is not the law. The law is very vague and leaves exactly what a session is undefined. There has been no case law to rely upon to try to further define session.
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Very true.
I didn't say what I should have: the law is that you must report by session (my response was to an individual claiming that he could net everything, which, of course, isn't the case). The definition of a session doesn't exist. Indeed, that was the premise of the article I wrote on what is a gambling session.
Actually, the IRS' view (which has been made clear to me from the audits I've been to) is much more restrictive than my own view. The IRS examiners I've dealt with have said that a session is your play at any one table at any one set of limits. If you're in a must move game, and you're moved, that's a new session. I think that's ridiculous, but that's what they've tried to use.
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The law is intentionally vague.
[/ QUOTE ] We'd have to ask Congress about that....
-- Russ Fox
co-author, "Why You Lose at Poker"
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